Same scenario happens, nothing more and nothing less than with industrial processes of art. 183, inc. 23, it is also reduced by 6%, at real values, the exemption amount for these processes. In the same line we will have taxpayers or subjects who will begin to tax gross income that previously did.
Now the most regressive or harmful, in this case, not so much to SMEs or productive or industrial companies, but to the pocket of the citizen who use the credit card is the tax, in this case stamps, which charge for expenses, consumption, financial charges and other expenses or balances generated as of 01/01/2021.
In short, it incorporates as a taxable event in the tax to the settlements or periodic summaries that the issuing entities of credit or purchase cards generate for their referral to the holders, with which theIt will create a new tax burden not only for purchases, service charges but also for financial charges, penalties and advances of funds. All this achieved with a rate of 1.2%.
The latter, the financing surcharge is the most regressive of all This is because, given the economic difficulty we are experiencing as a result of the pandemic that affects our country and the world, many citizens, as has happened in previous years, cannot pay their card balances and have no other option but to finance the balance. Well then This balance now, in addition to having interest for late payment / penalties, will have the surcharge of this new tax. And even worse with each balance refinancing, the tax to apply will be higher.
And precisely the regression is exposed not only with the tax surcharge for purchases but also for the financing for non-payment of the summary. Let us remember that the Regression is defined when a tax indirectly affects people’s ability to pay, as in the case of VAT, the tax reverberates or alter proportionally more to the less you have. And without a doubt the citizen who decides to finance his card summary is because unfortunately he cannot pay it.
Nor, in general lines, is there the option of paying in cash or with the debit in mind since many times, we insist, the credit card is used for the payment of a good, service, expense in the supermarket or even the payment of a public service.
In addition, as is well known, the national government has arranged many measures to alleviate certain purchases or consumption by giving payment plans with subsidized rates, with which whoever finances a purchase either with this plan or in installments that a certain commercial premises provide without interest or with a low financial interest, you will have to fall into this regressive and untimely stamp tax at the time we live.
In numbers, we observe that, as indicated by the BCRA, already at pre-pandemic levels the The level of delinquency was very high, as of Dec-19, with almost 11 million credit card users owed 602,000 million pesos. Logically, with the pandemic, that amount has increased.
Regarding monthly consumption, the latest data that exists in the BCRA (Jun-20) is Credit card consumption nationwide, amounts to 200,000 million pesos per month, and the CABA expects to raise about $ 7,700 million, which will come out of the pockets of the citizens of the CABA and as we said with a clearly regressive character and that goes against what, for example, the national ruling party in the congress intends to sanction with the increase of the deductions for the fourth category to the employees and retirees in the income tax. A CABA government with regressive rates and a national government easing the burden for workers and retirees.
Another level of discussion is due to the fact that from the constitutional point of view, the application does not correspond of this tax since as defined by the principles of the coparticipation law This stamp tax is levied on contracts or acts for consideration implemented by correspondence but which are self-sufficient, that is, that they have the power or faculty to be executed by judicial means for their collection, a situation that with the card summary and the provisions of the credit card law itself (Law 25,065). This has been upheld by our highest court in various jurisprudential antecedents.
In conclusion, It is not only a regressive tax that now taxes to a greater extent the consumption and financing of credit card balances, and that the consumer of low / medium resources cannot choose between credit or pay in cash / debit, with which this regressivity it is even greater; rather, it goes against what is upheld by the Federal Coparticipation Law, a violation of constitutional principles established in our Magna Carta.
In short, a Regressive tax that will deprive consumption, which will drown and deepen more the debts that Buenos Aires have with banks and credit cards and that violates the national constitution.
Certified Public Accountant.
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